It's a tricky one. Rates, Insurance and maintenance don't disappear. Rates and Insurance are often the responsibility of the tenant in a Commercial Lease and I can't see local Councils shrinking the Rates demand!
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As long as the tenants stick together, the shopping malls and landlords are going to have to be realistic.
It's a force majeure event over which both parties have no control so tenants lose all revenues and it is only fair that landlords lose revenues as well.
Lawyers are going to be the richer anyway out of this!
https://www.smh.com.au/business/comp...24-p54mxb.html
Looks like heading to court in Australia in some instances. Landlords will be reluctant to test their agreements in court, I suspect.
What’s going to happen in the market this week?.. tues/wed will be up as people are feeling good about level 3, then there will be a slide to the weekend as everyone realises that it’s not much different with more announcements from businesses saying they r really hurting/ cap raises..thoughts?..
Lifeline for our tourism sector when (not if) Australasian bubble is created to facilitate travel between the two countries.
Will make a huge difference to both countries.
Let's hope the bubble is in time for the Queenstown ski-season.
Note that Australian tourists & travelers account for 50% of all international visitors to NZ.
https://www.news.com.au/travel/trave...9c05a352c7bf95
https://www.tourismnewzealand.com/ma...ets/australia/
oil should in theory go to zero or negative again in june futures if conditions havnt changed from may.
Covid 19 coronavirus: Universal Basic Income high on Government's post-lockdown agenda
https://www.nzherald.co.nz/business/...ectid=12327758
that be good , roll all the welfare schemes into one UBI for everyone. the problem i guess with the current welfare ( dole) is if one person in a family loses there job more than likely be no welfare and what once was a two income family is now a one income family in poverty due to the very tight criteria for married couples. very likely this senario will play out in NZ under current rules